Find out more about Papaya Global Cost ... We now have the capability to manage both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has obtained a separate Chief Financial Officer specifically dedicated to handling payments. This provides us with a secure and reputable technique of making payments to our 10,000 workers worldwide.}
the very best international payroll managment app, saves me hours of time every month, one single dashboard for my payroll, EOR and contractors
Staff member Website
Staff members have access to an Employee Portal where they can view their pay slips, wage and tax declarations and work documents. The website is readily available in numerous languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global helps companies provide competitive advantages packages to worldwide workers despite the variety of staff members in the company. The company can establish medical insurance, short-term and long-term special needs, vision, oral and maternity leave while getting rid of the requirement to source regional benefits suppliers in every country, develop regional accounts and have a minimum number of staff members.
Global HR Performances
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and immigration services if your employees require work permit assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce spending, labor force diversity, total work expenses dispersed per location, overall work expenses per cycle and a lot more.
Globally, I have actually demonstrated management and strategic know-how in assisting large-scale populations of over 100,000 staff members throughout 170 countries. Currently, I am responsible for supervising payroll strategies, as discussed by Mark. My role includes handling and establishing external partnerships, supporting Business clients, and supplying advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments options company.
As a global company, we are honored to be consisted of on the prestigious Time 100 list of the most influential companies worldwide. We specialize in offering payroll and labor force management services to employees in more than 160 countries. I am delighted to present Johnny Nash, as discussed by Mark. Now, I'll let Johnny introduce himself. Good day to all, no matter your area. It's a pleasure to meet you and thank you for your valuable time. As Ian discussed, I am Johnny Nash, the director of payments at our company. With over a years of experience in the payments industry, I have focused on payroll and payment options for the past seven years. The complexities and challenges of this field have actually always captivated me.
payroll payments and decided to kind of make a real go at that over the last five or 6 years where I have actually kind of had a variety of various roles on the company side and also on the vendor side from a payroll point of view so really looking forward to this discussion today um and yeah thank you quite for your time everyone fine thanks Johnny uh we'll simply provide everyone another couple of uh well among the 30 seconds or so to join we all work back to back these days so we'll kind of let them do that so it 'd be quite intriguing and I can see it going on already simply to hear where everyone is um it's nice to to kind of like see where everyone comes from and I really do hope it's much sunnier than it remains in the UK today certainly not the peak of the sunshine is it it's not no it's it's drizzling here it's extremely extremely bleak and I wish I was elsewhere at this moment in time okay so let's get started our program for today is as follows um we are going to be looking at the difficulty years of handling Global payroll why companies preserve different
Virtual payroll accounts are an option to conventional checking account for managing payroll payments. This is particularly beneficial for global companies with dispersed and remote workforces, as it simplifies the complex process of cross-border payments. Instead of maintaining separate bank accounts for payroll in different countries, virtual accounts and digital wallets provide a more structured option. In this webinar, we will check out the benefits of using virtual payroll accounts and discuss why they are becoming a strategic possession for payroll executives. We will also supply a recap of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments properly efficiently safely and on time during this webinar we'll stroll you through the worldwide pros and cons of a payroll wallet versus a payroll bank account how business properly anticipate their payroll costs to increase working capital and how enhancing Worldwide payroll payments can turn them from a siled pane into a tactical possession so payroll can be challenging in sufficient in one country but when you're doing it globally it's next level and Beyond it ends up being intricate for a range of reasons most significantly policies compliance information security and banking rules then there are the sheer numbers they add further intricacy the global Workforce is presently 3 and a half billion people by 2030 it's estimated that in Africa alone they will contribute and more 1.1 billion people that number is presently 500 million just for for a scale then factor in that there are some 230 million services and growing all doing their own thing around the world in the traditional payroll design there's frequently an overwhelming variety of different systems resulting in lengthy manual processes and silos the variety of Integrations could be non-existent in large amounts and or very very standard there's no genuine consistency structure we're living in an age of tech but payroll has actually been sluggish to get on board in fact as much as 25 of payroll is still done by hand frequently with pen and paper and that simply blows my mind each time I I think
about it to provide you an idea of how far there still is to come according to Deloitte only 11 of companies say they have Workforce information in real time that's another number that offers me sleepless nights and rather honestly the more a service invests in international payroll the less of an image they see a lack of exposure also reaches payroll payments and failure to precisely track these payments can result in compliance incidents in the last mile of the deal almost half of global services have actually revealed that they do not have the level of standardization they require in their procedures or want and as a result eighty percent of mistakes are due to time reporting poor HCM data data entry errors inadequately communicated hires and terminations in addition to lack management and system setups and after that when you round everything off and the information is delivered to the incorrect place the typical expense of an international data breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the cash worldwide payroll and payments do not run efficiently if they depend on the required multiple processes systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the challenges business face when they're paying to employees or otherwise that's a good concern I always throw this back and state what is it what does not need to be included ideal and what does
it need to be considered there's varying Bank information so the length of an eye band a swift an account number routing code per country there's payment time frames there's payment abilities so can you pay it from International or do you need to pay from an in-country account do you have to pay from the client's own in-country account so there's complexity any place you look ideal eventually building a knowledge base is definitely critical however everywhere you look with payroll payment they resemble extremely payments no if but some infants about it you are all superheroes processing payments for payroll if you look at the kind of link in between fintech and payroll it's closer than ever I think there's now a bit more recognition that payroll payments are definitely basic and innovation is enabling us to type of progress with that it likewise as well to add to that payroll and financing need to work closer together um with differing Bank Account Particulars varying banking requirements and setup procedures is definitely imperative that payroll and finance groups work more detailed together than ever um I'm always surprised when people say I've divided payroll and payment um if you walk down the street and asked anybody what is payroll who doesn't operate in the payroll profession would they split the payroll payment from estimation I would say no so why do we as an industry accept that why our payroll and payments so typically split and cut up um ultimately it's payroll is an end-to-end process it's the point of information collection all the way through to paying individuals any place they are but also paying statutory authorities and on statutory 3rd parties so with the
world we reside in and wellness being increasingly more important to contribute to type of the level of complexity there's more and more advantages being organ or being provided by organizations throughout the world so once again you're simply seeking to include more and more payments to this currently complicated landscape so if you sort of got any experience well I'm from your vast experience here and I make sure however have you got any experience in kind of genuine difficulties or real tough type of pay utilizes to play to pay individuals I believe yeah I indicate over the last well yeah a couple of decades I would definitely state that the larger a company gets the more it tends to segregate the payroll and the payments functions um there are groups doing one part of the task there are groups feeding information into the next function as it were that's really managing the payment side of things but you know in in my viewpoint and my experience that doesn't always need to be the case you understand long gone are the times where we require to create additional handoffs while doing sos that we operate in they just make them more prompt they make them less efficient and they do not make them what they require to be in in an era of tech and a period that you understand that we are operating in today there is no reason that we are still making this as challenging as it needs to be concurred and rightly as you said payroll is the single most significant liability that any service has from an expense point of view from an effect viewpoint on employees it is definitely crucial that it's done properly and on time so what we mean by that is not a day before not a day after on pay day and payments need to be done right it has the biggest damaging result on people's wellness and numerous other factors if people aren't paid uh I've always been astonished entering into this Market kind of the last five to 10 years is how little thanks the
payroll team get um so I'm uncertain anyone on this kind of webinar has actually been told thank you for processing my payroll correctly if you have it 'd be great to hear your success story and whether that's been from all employees or not um however eventually payroll is such a crucial cycle we all hear about it when it goes wrong everybody jumps up and down when it fails but when it goes right it's simply a tick box exercise and I believe that's how it's seen from the external consider as well um so yeah it's likewise like why WI-Fi Global why all of this things is absolutely vital that all of this things is done correctly so leveraging the first Worldwide Payments first payroll payment option is a fantastic initial step um offering an end-to-end payroll solution for your staff members internationally once again I believe is another big um process once again lining up and ensuring you have standardization Worldwide procedures all of those things are absolutely essential to success success of services and lowering the number of tools platforms and checking account they need for their Worldwide payroll too couldn't agree with you more and on the the front in regards to of the thank yous for getting payroll done I've never ever had a hundred thousand of them within a payroll cycle don't anticipate to you do get the odd five or 10 or whatever it might be with the with the the complaints where things have not gone rather where they're indicated to be um I don't think any of us are in fact doing that for for the thanks
anyway we know how how essential a role it is and that's why we do it that's why we get on with it and this is why we're talking today about making it as easy as possible for everyone that's associated with those processes and also so picture sorry I'm simply I was just gon na say think of the amount of thanks you got if you could cover the quantity of individuals that we cover within this webinar I make certain we're discussing hundreds of thousands possibly Millions envision getting that many thank you keeps in mind um I mean it 'd be interesting to see how many Post-it notes you got however it would certainly be an intriguing job trying to clean up all those up for sure oh definitely I can't picture the size of my my Outlook inbox if that held true um you 'd need days of the week to attempt to check out them and actually see what was going on and kind of shot to return to everybody so carrying on look why do companies choose to main separate checking account there are services out there doing exactly this for particular nations and I have actually worked in a service or many organizations doing precisely that I can say it does not constantly feel effective and it does create more work I know we're not deliberately doing that we're not producing extra work for any person where we do not need to and anybody that's handling that process I 'd be interested to hear your ideas Johnny why do you believe that we're doing that in in the in the amount that we are I think lots of factors one is it's the standard I believe individuals have got so utilized to we require a new checking account we open an entity and rightly so you need it for payroll functions however there are a number of markets where it's not a requirement so I think it's simply been the standard and the standard the people have adopted and continue to do over years and years gone past to add to that individuals have actually taken a look at things like trust accounts and numerous other ways um to to type of do it so I think there's a range I believe this is a procedure that requires looking at it requires altering but eventually people are very stuck to what they recognize
with best um change is a difficult thing we all don't like change um so I think it's just kind of moving far from the norm as we've said so yeah so it keeps a lot of track of things um I understand obviously the advantages of having maintaining several bank accounts but there's a substantial amount of intricacy opts for establishing a savings account keeping it guaranteeing it can send out International transfers ensuring it's set up with the right user accesses for specific individuals so the complexity is big but I think the honest response is change um people have not been able to change or have not had necessarily the understanding to actually make that change into alternate Solutions besides opening a bank account I believe you've struck the nail on the head I believe it is understanding you understand and there is a component of resistance to alter but we have actually always done it that way is no genuine excuse for not taking a look at the the benefits and the possibilities of carrying on and moving into you understand what could nearly be figured out to be the next Century or two there is a lot to monitor and this method does position several obstacles um so Johnny could you inform us about those obstacles yeah obviously so there's a range right there is so
I just did you switched our Enterprise to OS so now we can do our payroll and payments operation on a single platform yes it's like our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 International staff members you are worthy of a corner office with a more detailed parking space since I mastered International payroll and payments with Papaya payroll OS did you
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